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after good gains yesterday. following strong moves in the u.s., as well. cac 40 down half a percent. weighed town by the moody's downgrade, although expected. and ibex done around 0.4%. french debt market, yields are up to 2.1%. treasuries slightly higher, but still below 6%. ten year bund yields slightly lower. so france is trading with the peripheral in that sense. euro-dollar, 1.2794 is where we stand, dipping slightly on on the back of the french downgrade. dollar-yen 81.26, but the yen has been down at acceseven mont lows. aussie dollar slightly weaker against the u.s. dollar. rba minutes suggesting that their policymakers consider further monetary easing may be appropriate. still to come, we'll be in athens and brussels. euro group reportedly close to signing off on the next tranche aid. i always wait until the last minute. can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. get on e-trade. set up a real plan. frank!
advisers austan goolsbee on how the u.s. can avoid falling off the fiscal cliff. plus we'll take you live to tokyo with japan hit by election fever. the yen is falling as a repeated call for bold monetary easing. and we'll be live in new york 5:45 a.m. for a look at the u.s. retail sector. walmart and target getting set to release third quarter numbers. >>> chig that's ruling com uhe nus party has lifted the curtain. the unveiling seals so s xi jins rise. hu has seeded oig all powers and that's gives china's next leader a strong mandate. eunice has more for us this morning. it sounds like a pretty signature consolidation of power under xi. >> definitely is a consolidation of power. he'll get a very strong mandate as you had mentioned to run this country the way that he wants. he gets the three top titles, the most powerful are party chief, president as well as military commander. that is very significant because it allows him to have more control over his own agenda. when he went to meet the press this morning, he was looking very casual, looking a about folksy. when he was youtd lining t
for you. right. >>> research in motion may be losing another big u.s. customer. the national transportation safety board may switch from blackberries to apple's iphone. they have failed at inopportune times and the iphone would better link to the ipad. last month, the immigration and customs bureau switched to the iphone. you can see that we do have that stock price up about 8%, though, in u.s. markets yet. >>> still to come, i talk retail spending, online trends and holiday shopping with phillip green. plus, a rather well-known famous pop singing shopper. >> quality and it's comfortable. there you go. >> what's better than that? can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on groupping at fedex office. >>> after nearly 12 hours of talks, the ecb and imf officials failed in their request to agree conditions -- officials did agree to meet again ne
thought to the findings of the congressional committee on the culpability of jon corzine, the former u.s. senator with respect to the mf global collapse. >> i think it is no surprise that corzine gets all the blame there from republicans. they want to embarrass a guy who's got democratic connections. he was to blame. he made these big bets. the more interesting thing to me is the extent to which it shows that the s.e.c. and the cftc were completely at odds with one another, not in sync, and makes the argument strongly for merging those two. it does make the case more strongly for merging those two agencies. >> thank you very much, ben. we'll talk more about that congressional report in our next half-hour. simon? >>> tyler, in 53 minutes, a major news conference begins in which we're expecting an announcement that bp, british petroleum, is agreeing flou to pay the u.s. government a record fine for the disastrous oil spill in the gulf of mexico. what was it? two years ago. bertha coombs has details. bertha. >> that's right, simon. they will admit guilt and pay the largest fine ever by a u.
economists and business leaders say could send the u.s. economy back into recession. here we have an interesting divide between wall street and washington. wall street seems to believe and you can take a look at the numbers on how the market has acted over the past year. wall street seems to believe that we'll avert this cliff. washington seems to be willing to drive over the cliff. >> i think there's -- i don't want to pick on the tea party per se. you can say if obama would suddenly give in on taxes. what i worry about is there are people who are ideological in the country and more focused on other issues than taxation and money. those people i think are very much out of sync with other people as we discovered last night from the election. they could care less about the fiscal cliff. i think some people want to go over the cliff. >> howard dean last night, sam on "squawk" a couple weeks ago saying maybe it's the best medicine for us is to drive over this thing, go into a recession, provide some bed for growth in the second half of the year. it's a gamble. >> $5 trillion in cuts.
the looming fiscal cliff. he says failure to do so could pose, quote, a substantial threat to the u.s. economy. >> the realization of all the automatic tax increase and spending cuts that make up the fiscal cliff absent offsetting changes would pose a substantial threat to the recovery. indeed, by the reckoning of the congressional budget office, the cbo, and that of many outside observers. a fiscal shock of that size would send the economy toppling back into recession. >> but the fiscal cliff does not really worry my next guest. he describes it as the y2k of the moment. joining me now to explain is a well-known fed critic jim grant. he's founder and editor of "grant's interest rate observer." you say this is like y2k. no big deal. came and went. you're not worried about it. you say the markets aren't going to fret over it. >> i don't mean to be quite so dismissive. certainly my experience of problems that are most ventilated are the ones that are least menacing, in fact. the more you talk about something, the more it's likely to be discounted. we've done nothing but talk about the fiscal clif
to 60 minutes on cnbc. i'm leslie stahl. by most accounts, the financial crash of 2008 pushed the u.s. economy to the brink of collapse. in its aftermath, some of the country's biggest banks received very big bailouts while large numbers of small local banks failed. this edition features a unique inside look at the seizure of a failed bank and a rare interview with one of the men at the center of the 2008 economic crisis and the recovery plan that has followed, the chairman of the board of governors of the federal reserve system, ben bernanke. plus, morley safer asks, "can america afford the lincoln penny?" well, we begin with bernanke. after the crash of '08, bernanke invoked emergency powers, and with unprecedented aggressiveness, he's thrown more than $1 trillion at the crisis. the words of any fed chairman cause fortunes to rise and fall, and so by tradition, chairmen of the fed do not do interviews. that is, until march of 2009 when ben bernanke sat down with scott pelley. >> mr. chairman, i'm gonna start with a question that everyone wants me to ask. when does this end? >> it de
's going on in defense. also, regardless of the fiscal cliff there's cuts. the u.s. government is the world's biggest buyer of software associated with the running of any kind of government. that's another kind of corollary here. a big comment from a lot of people in the defense industry about that yesterday. i think they're the first company to come out and make realistic expectations of what will happen in the next couple of years. back to you. >> okay. thank you. dave cote is the head of the curve on all of this. let's shift to bonds and dollar. rick santelli at the cme group in chicago. rick? >> thank you, jim. everyone is excited about good housing numbers. everybody but the fixed income market. everybody but the equity market. i know there's an hp issue here. however, let's look at the charts. let's put up a two-day chart of tens. clearly you can see we're up about a basis point on the day. if you look on the right side of the chart and look around 8:30 eastern, you can't pick out that we had a good housing number. if you really switch this around a bit, you look at the shorter mature
their landfills up. >> certainly. we have 11 landfills in north america, two in canada, nine here in the u.s. a lot of that volume that we're getting into our landfills in the u.s. is from the oil and gas place, quite frankly. so our real focus to deal with drill cuttings, a lot of the drilling muds, processing waste on these drill sites. handling those waste back in our landfills. we're also out actively pursuing remediation projects, large events or projects that are taking care of super fund related cleanup. that's a steady pipeline of business we've been focused on. we continue to see that volume or business continue to be pretty steady and growing. >> as a staff at cnbc, we're really focused on the fiscal cliff. i know people are tired of hearing that term, but it's huge. is there super fund money that's cut automatically in 2013 because of sequestration? >> you know, the super fund hasn't really been reauthorized for years. the amount of money that's being spent directly by the government is very small. what we're working for are these prp groups, these responsible parties where they'v
no time on this issue today. fitch saying the u.s. needs to fix that debt threat and moody's says it's going to wait before taking any action and maintain its negative outlook on the u.s. economy. one thing is for sure. the stock market is taking the fiscal cliff very seriously. the blue chip average is off the lows but still down sharply at one time today, the dow was down about 369 points. first time we've seen that big of a decline since november 21st of last year. off the lows rights now, the dow down 260 points at 12,985. the nasdaq is down 63 points, a more than 2% decline at 2947. the s&p at this hour is down 28 points right at 1400. let's break down what's behind today's dramatic decline in stocks in today's "closing bell" exchange. we welcome back michael pento, kwint tatro, jeff sika, and our own rick santelli. quint, you believe the market was going to go down either way. why? >> i do. i think this was long overdue. we have been propped up with some incertauncertainty. it's kept the market saying, are we going to get a change? it didn't matter who won. we've been facing pr
forces claiming to have targeted 100 gaza sites. the u.s. secretary of state hillary clinton is on her way to the middle east for talks with officials in a bid to try to end the deadly crisis. we've been watching oil prices, as well. and after sharp gains yesterday, you can see oil prices pulling back about 27 cents, still just about $89 for wti crude. we will have a live report from our nbc colleagues on the ground in the middle east coming up in the next half hour. >>> let's talk about some of the main market events of the morning. actually today fed chairman ben bernanke's speech at the economics sclub of new york is coming up at 12:15 eastern time. traders will be listening no any comments on the central bank's operation twist program and discussions about changing how the fed communicates about interest rates. operation twist expires next month. and there is some speculation the fed will continue making asset purchases by expanding the size of its $40 billion a month quantitate of it easing program. also on the economic agenda today, october housing starts released at 8:30 a.m. an
markets closing at 1:00 p.m. eastern on friday. take a look at the u.s. equity futures. the dow is down by about 3 points. the s&p 500 is off by four. the nasdaq down by about 12. because of tomorrow's holiday, you do have the labor department coming out, releasing its weekly jobless claims numbers today. we get them a day early instead of a day late. also today we'll be getting weekly mortgage rates. and freddie mac will report on the weekly mortgage rate averages as well. >> let's talk about the top global market story this morning. it is greece's international lenders, which did not reach a deal, and now they won't be releasing that next bailout payment. nearly 12 hours of talks failed to reach a consensus. the imf and the central bank all going to gather again on monday to try again, but this is not necessarily good news at all. hostess brands will proceed with a plan to go out of business. the maker of twinkies says last-minute talks with the striking workers broke down yesterday, hearing with a bankruptcy judge set for 11:00 eastern time. then we have another string of bad news. >
died in the u.s. as a result of sandy. most of them from new york and new jersey. still 5.6 million customers in the dark. and it may be ten days before the hardest hit areas sea power restored. more than 19,000 flights were canceled because of sandy, but stranded passengers have something to be thankful for. newark and jfk airports were back in business yesterday and delta and american airlines are scheduled to resume a limited number of flights out of laguardia in about 30 minutes. the mta is also getting back to business with new york city subways offering limited service starting today. the m tcta is waiving all fees until tomorrow. so good news there. >> we're looking for any good news so thank you. the eye of hurricane sandy has hit the jersey shore hard. it wiped away entire economies. president obama surveyed the damage with chris christie yesterday. this morning kayla tausche is in toms river, seaside heights. what's it look like there? >> reporter: it's very dark here. we're at the mouth of the bridge which leads over to sea sooid heights, a road only accessible by emergen
epperson at the nymex. u.s. jobs data sent gold prices sharply lower, below $1,700 an ounce. the first time we've seen gold this low since september 7th. we did see a lot of stocks go under way as we got the jobs data. oil prices are slightly lower, the stronger dollar pressuring oil prices as well as several e refineries still shut here along the east coast due to hurricane sandy and gasoline futures up slightly but the national average keeps coming down, $3.50, down 8 cents from a week ago, down 28 cents in the month. back to you, carl. >> thanks so much, sharon epperson. >>> the coast guard opening the port of new york and new jersey on a restricted basis allowing the backlog of barges allowing gasoline and fuel into the area. how soon might we see in the areas affected by sandy? good morning, kate. >> reporter: good morning, carl. i just returned from the dockses behind me where dry dock work ers are hoping to get themselves ready for new ships to be repaired as early as monday. they have a waterfront view of what's going on in the port of new york and new jersey which was just reopene
, which may be weighing on u.s. oil prices as well. we're going to get a report from the energy department tomorrow about crude supply situation. it's expected to show an increase for the week. we're also going to get tomorrow the supply situation for natural gas, a day early because of the thanksgiving holiday. >> all right, sharon. thanks so much. meanwhile, shares of consumer electronics retailer best buy down again today. down about 13% today alone after a massive earnings miss. this, even though best buy's new ceo, says he's optimistic. here's what hubert jolie told me last week. >> we're pretty excited. we have a lot of products coming on to the market. the apples products, windows 8. a lot of great releases. the associates are very ready to work with customers. we're turning the table on showrooming with price matching. we're ready for the holidays. >> so are you ready? is best buy a value or should we be staying away from this stock? let's start talking numbers now. we have richard ross. on the fundamentals side, jeff pillburg with killer capital and a cnbc contributor. good to see
that the q & a session with the u.s. attorney for the southern district has just begun. their prepared comments just finished. we heard from both berrera and s.e.c. enforcement chief rob kuzami as well as april brooks of the fbi. trying to use this case, tyler, very much as a warning shot, essentially saying if you are considering doing insider trading or cheating in any way, think better of t one of berr a berrera's best, most memorable comments is if you are going to pursue ill got gains the only place you may be able to spend your profits is at the prison come mistary. they talk about the unlevel playing field created allegedly when the hedge fund in question at the behest of this defendant, a matthew mar tomy marks who was arrested this morning, essentially traded out of pharmaceutical companies they had amassed positions in because they got early information about a drug trial that had not gone well, resulting ultimately in these quarter billion in profits. one thing absent from this commentary was any detail hot quote unquote hedge fund owner was mention noticed federal complain
Search Results 0 to 15 of about 16